• All Things Digital, Tuesday, June 21, 2011 11:56 AM

Caterina Fake, co-founder of Flickr and recommendation engine Hunch has a new project in the works, and, according to an SEC filing, she's in the process of raising $2 million to give it life. "Entrepreneurs gonna entrepreneur," Fake said on her blog this week.

"I have a new start-up! We are building something consumer-facing, something social -- all the things I love best -- for optimal founder-market fit! It's crazy times in the Valley and while I prefer doing start-ups when the going's tough, money is scarce, and engineers are unemployed -- the best time to start a company is always two years ago, and the next best time is now. So now it is."

According to Alls Things D, investors include True Ventures, Founder Collective (where Fake is an investor), SV Angel, Keith Rabois, James Joaquin and Shoshana Berger. "The company, which appears to be code-named 2bkco, also involves Marc Hedlund of Daylife and Wesabe as well as Eric Allen of Sauce Labs." According to the SEC filing, Fake had raised $1.54 million of a $2 million round as of June 15.

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